China attractive to FDI despite slowing growth: MOC

BEIJING — China’s assistant commerce minister said on May 5 that the country remains competitive in drawing foreign investment even though the economy faces downward pressure.

Speaking at a work conference, Wang Shouwen cited China’s stable market, industrial infrastructure, as well as the country’s increasing integration with the global economy as major lures of foreign investments.

Data released on April 16 showed foreign direct investment (FDI) in the Chinese mainland jumped 11.3 percent year on year in the first three months of 2015 to $34.88 billion.

During the same period, China’s growth slowed to 7 percent year on year, the lowest quarterly growth rate since 2009, which has prompted concerns of possible investment outflows.

The Ministry of Commerce said its major tasks in 2015 include pushing for opening up, cutting red tape around foreign investment and widening pilot projects offering liberalized trade restrictions.